Allentown manufacturer gets the go-ahead for expansion
November 4, 2013 by Mark
Lehigh Valley Technologies, Inc., a pharmaceutical manufacturer in Allentown, will be providing jobs to more than 50 people as it expands its operations.
The expansion was announced at the end of October by Pennsylvania governor Tom Corbett. Part of the funding used to grow the company came from the commonwealth, including more than $50,000 in tax credits for job creation and an additional $23,400 from a Guaranteed Free Training grant. The company can also apply for a number of loans from the government, including 10-year loan from the Machinery and Equipment Loan Fund amounting to nearly $500,000.
Once it starts hiring officially, the company can use flyer printing to promote the jobs it intends to fill. Along with opening 52 well-paying positions, the company intends to retain 36 positions that are already occupied.
The manufacturer currently runs out of a 30,000 square foot building in downtown Allentown. To accommodate its expansion, it acquired an additional 39,000 square foot building in town. When all is completed, the company will have spent more than $3m as part of its expansion project.
Lehigh Valley Technologies was founded in 1999. At the beginning, it produced over-the-counter medications. The company began making prescription medicines as well in 2005, and currently has a few new products in development.
The company is just one of several that have recently hired people in the Allentown area. A competing company, AmericureRx, announced that it planned to hire more than 50 people in August.